Yahoo today responded to yesterday’s letter from Microsoft inviting Yahoo to join the boys up in Redmond. The letter rejects Microsoft’s offer for the web services giant unless more money is offered.

In a summary of their response Yahoo said:

We are open to all alternatives that maximize stockholder value. To be clear, this includes a transaction with Microsoft if it represents a price that fully recognizes the value of Yahoo! on a standalone basis and to Microsoft, is superior to our other alternatives, and provides certainty of value and certainty of closing. Lastly, we are steadfast in our commitment to choosing a path that maximizes stockholder value and we will not allow you or anyone else to acquire the company for anything less than its full value.

The key phrase in this summary is “includes a transaction.. if it represents a price that fully recognizes the value of Yahoo!”. So come on Microsoft, more money please..